Real Estate

New York City -- Borders Group has reached agreements with its landlords to extend the leases on 11 stores it had previously asked a bankruptucy court to shutter, the Associated Press reported.

Last week, the chain asked permission to start liquidating 51 stores because of a condition for its financing. But it said at the time it was actively working to keep them open.

New York City -- Leonard Green & Partners and CVC Capital Partners said Friday they are making a joint buyout bid worth an undisclosed amount for BJ's Wholesale Club. The two private equity firms revealed their plans in a Securities and Exchange Commission filing on Friday. The bid price was not disclosed.

In February, BJ's announced it was exploring a sale. In March, Leonard Green is already the chain's larger shareholder, with a 9.3% stake.

Sam’s is enjoying some solid momentum these days, but a potential buyout of BJ’s Wholesale Club announced Friday morning could create some competitive issues in market where the companies operations overlap.

Of course, that assumes the private equity firms Leonard Green & Partners and CVC Capital Partners, the companies who have joined forces to take BJ’s private, are interested in growing the business and investing in operations as opposed to simply squeezing the 190 unit retailer for cash.

New York City -- Chicago Mayor Rahm Emanuel met with executives from six grocery chains, including Walgreen Co. Wal-Mart Stores and Aldi about eliminating food “deserts” in six Chicago neighborhoods, the Associated Press reported.

Emanuel showed a detailed map of Chicago food deserts and made business cases to the grocery executives for specific properties in each food desert area. He said 450,000 Chicagoan's don't have access to fresh food.

Neptune Beach, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased restaurant space in Neptune Beach, Fla., at Seminole Shoppes to Smashburger.

Smashburger has leased 2,100 sq. ft., bringing the center to 96% leased. The restaurant is slated to open for business in fall 2011 and is the first store location for the franchise chain in the Jacksonville area.

The 78,240-sq.-ft. shopping center is anchored by Publix Super Market.

Greenville, S.C. -- Charlotte, N.C.-based The Chambers Group, an X Team partner, said it has completed a lease for the first REI in South Carolina.

The outdoor equipment retailer will join The Point shopping center, a Whole Foods-anchored property located in Greenville, S.C., and owned by Beachwood, Ohio-based Developers Diversified Realty.

REI will occupy 22,000 sq. ft. of a former Circuit City space.
 

Honolulu, Hawaii -- Jones Lang LaSalle announced Thursday it has named commercial real estate veteran Kirk Horiuchi as senior VP in its Retail Division.

In this newly created position, Horiuchi will oversee the company’s leased and managed portfolio, and will be tasked with growing the firm’s third-party retail business in Hawaii.